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In January 2024, a finance director at a UK firm transferred $25 million to fraudsters after a video call with what appeared to be the company’s CFO — a very sophisticated deepfake. This incident is far from isolated. The global losses projected due to ecommerce fraud surged from US$44 billion in 2024 to $107 billion in 2029; a massive 141% increase, according to a report from Juniper Research.
Compounding the problem, a staggering 60% of consumers now doubt the authenticity of online content, citing concerns over AI-generated misinformation, deepfakes and content overload, as revealed in Accenture’s Life Trends 2025 report survey.
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